XUSP vs. DBE

Last updated Jun 3, 2026

XUSP (Innovator Uncapped Accelerated U.S. Equity ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - XUSP is a Options Trading fund actively managed by Innovator, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. XUSP is actively managed, while DBE is passively managed. Over the past 3 years, XUSP returned 25.60%/yr vs 22.48%/yr for DBE. At a 0.03 correlation, their price movements are largely independent. XUSP charges 0.79%/yr vs 0.78%/yr for DBE.

Performance

XUSP vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Uncapped Accelerated U.S. Equity ETF (XUSP) and Invesco DB Energy Fund (DBE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XUSP achieves a 13.64% return, which is significantly lower than DBE's 79.50% return.

XUSP

• 1D: 0.16%
• 1M: 7.26%
• YTD: 13.64%
• 6M: 13.55%
• 1Y: 36.05%
• 3Y*: 25.60%
• 5Y*: —
• 10Y*: —

DBE

• 1D: 0.80%
• 1M: -3.65%
• YTD: 79.50%
• 6M: 72.59%
• 1Y: 82.31%
• 3Y*: 22.48%
• 5Y*: 19.20%
• 10Y*: 11.78%

*Multi-year figures are annualized to reflect compound growth (CAGR)

XUSP vs. DBE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XUSP Innovator Uncapped Accelerated U.S. Equity ETF	13.64%	18.27%	30.60%	26.46%	-9.24%
DBE Invesco DB Energy Fund	79.50%	-2.17%	2.96%	-12.14%	-10.44%

Correlation

The correlation between XUSP and DBE is -0.31, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.31
Correlation (3Y) Calculated over the trailing 3-year period	-0.08
Correlation (All Time) Calculated using the full available price history since Aug 12, 2022	0.03

The correlation between XUSP and DBE shifts across timeframes, from -0.31 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.

Return for Risk

XUSP vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XUSP

XUSP Risk / Return Rank: 65
XUSP Sharpe Ratio Rank: 68
XUSP Sortino Ratio Rank: 64
XUSP Omega Ratio Rank: 64
XUSP Calmar Ratio Rank: 60
XUSP Martin Ratio Rank: 68

DBE

DBE Risk / Return Rank: 71
DBE Sharpe Ratio Rank: 71
DBE Sortino Ratio Rank: 61
DBE Omega Ratio Rank: 64
DBE Calmar Ratio Rank: 92
DBE Martin Ratio Rank: 65

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XUSP vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Uncapped Accelerated U.S. Equity ETF (XUSP) and Invesco DB Energy Fund (DBE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	XUSP	DBE	Difference
Sharpe ratio Return per unit of total volatility	2.28	2.37	-0.09
Sortino ratio Return per unit of downside risk	3.04	2.91	+0.14
Omega ratio Gain probability vs. loss probability	1.39	1.39	0.00
Calmar ratio Return relative to maximum drawdown	3.00	6.10	-3.10
Martin ratio Return relative to average drawdown	12.72	11.98	+0.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XUSP vs. DBE - Sharpe Ratio Comparison

The current XUSP Sharpe Ratio is 2.28, which is comparable to the DBE Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of XUSP and DBE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XUSP	DBE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	2.37	-0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.66	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.06	0.09	+0.97

Drawdowns

XUSP vs. DBE - Drawdown Comparison

The maximum XUSP drawdown since its inception was -22.59%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for XUSP and DBE.

Drawdown Indicators

	XUSP	DBE	Difference
Max Drawdown Largest peak-to-trough decline	-22.59%	-86.69%	+64.10%
Max Drawdown (1Y) Largest decline over 1 year	-12.13%	-14.41%	+2.28%
Max Drawdown (3Y) Largest decline over 3 years	-22.59%	-23.89%	+1.30%
Max Drawdown (5Y) Largest decline over 5 years	—	-38.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-60.84%	—
Current Drawdown Current decline from peak	0.00%	-31.85%	+31.85%
Average Drawdown Average peak-to-trough decline	-4.43%	-57.31%	+52.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	7.34%	-4.48%

Volatility

XUSP vs. DBE - Volatility Comparison

The current volatility for Innovator Uncapped Accelerated U.S. Equity ETF (XUSP) is 4.07%, while Invesco DB Energy Fund (DBE) has a volatility of 13.47%. This indicates that XUSP experiences smaller price fluctuations and is considered to be less risky than DBE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XUSP	DBE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	13.47%	-9.40%
Volatility (6M) Calculated over the trailing 6-month period	11.89%	30.80%	-18.91%
Volatility (1Y) Calculated over the trailing 1-year period	15.87%	35.02%	-19.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.21%	29.37%	-10.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.21%	28.33%	-9.12%

XUSP vs. DBE - Expense Ratio Comparison

XUSP has a 0.79% expense ratio, which is higher than DBE's 0.78% expense ratio.

Dividends

XUSP vs. DBE - Dividend Comparison

XUSP has not paid dividends to shareholders, while DBE's dividend yield for the trailing twelve months is around 2.15%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBE Invesco DB Energy Fund	2.15%	3.86%	6.32%	3.87%	0.75%	0.00%	0.00%	1.79%	1.67%
XUSP Innovator Uncapped Accelerated U.S. Equity ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XUSP and DBE in my portfolio?

XUSP and DBE have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XUSP or DBE?

DBE has higher volatility (13.47%) compared to XUSP (4.07%). In terms of maximum drawdown, XUSP dropped -22.59% vs DBE's -86.69%.

Which ETF is better, XUSP or DBE?

On 3-year performance, XUSP leads with 25.60% vs 22.48% for DBE. On fees, DBE is cheaper at 0.78% per year. On volatility, XUSP has been the lower-risk option at 4.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XUSP or DBE?

Over the 3-year period, XUSP has performed better with a 25.60% return vs 22.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XUSP or DBE?

DBE is cheaper with a 0.78% expense ratio, compared with 0.79% for XUSP.

Which ETF pays a higher dividend yield, XUSP or DBE?

DBE has the higher dividend yield at 2.15%, compared with 0.00% for XUSP.

What is the main difference between XUSP and DBE?

XUSP is categorized as Options Trading, while DBE is Oil & Gas. They also come from different issuers: Innovator and Invesco. Their fees differ too: 0.79% for XUSP and 0.78% for DBE.

Which has better risk-adjusted returns?

DBE currently has the higher Sharpe Ratio (2.37 vs 2.28), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.